Will Celestia (TIA) touch $20? Analysts make bold predictions
Celestia (TIA), the hottest Crypto Assets in the modular blockchain space, has been on a rollercoaster ride in recent weeks. According to the data, after reaching a peak of nearly $16, TIA underwent a correction and big dumped to $7.5.
However, the Token has shown remarkable resilience, rebounding to $11.50 and showing strong volume – a sign that investors have not given up yet.
The last 24 hours have been especially kind to Celestia. Token prices pumped sharply by 6.20%, indicating a shift in investor sentiment. Analyst forecasts and market psychology further supporting this bullish momentum.
The price action of TIA reveals the struggle between bullish and falling forces. Despite the Fear & Greed Index of 72 ("Greed") and a bullish price prediction, the current price of $11.70 is still significantly lower than the average price of $20.85 on February 10, 2024. This indicates that the downtrend is likely to continue. However, one key technical detail to note is that the price is holding above the cycle low of $7.61. This may indicate that prices are starting to recover, but further Technical Analysis is needed to confirm this.
About 46 Crypto Assets exchange, including Gate.io, allow traders to trade Celestia. Celestia changed hands the day before for $549.6 million.
Crypto Assets analyst CryptoBullet offers a long-term view of Celestia's trajectory, focusing on its weekly chart. Analysts predict that TIA may enter a consolidation phase and may trade below the previous high of $20 for an extended period. This consolidation could form a bullish "symmetrical triangle" pattern, which is a common technical indicator before a major price breakout.
CryptoBullet believes that after this period of consolidation and reaccumulation, TIA will pump sharply, with ambitious macro price targets of a staggering $70 or even $130. While these targets are high, they highlight analysts' confidence in Celestia's long-term potential.
The recent bullish sentiment around Celestia is not just driven by speculation. Celestia is a modular data availability network that is the foundational technology for support Blockchain scalability and security.
By providing a secure platform for developers to launch their own Blockchain, Celestia positions itself as a critical infrastructure in a thriving Blockchain ecosystem. This underlying value proposition, combined with recent positive market forces, is propelling Celestia into the spotlight.
While predicting a specific price point like $130 in the Fluctuation Crypto Assets market is difficult in itself, Celestia's future trajectory remains fascinating. Bullish sentiment and greedy market sentiment indicate that prices have the potential to appreciate.
However, a sharp fall from all-time highs and the unknown impact of future news and developments warrant caution. Technical Analysis using indicators and monitoring upcoming events can make the price direction of Celestia clearer.
(Source: Christian Encila)